ECONOMICS
BUDGETING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Student Loan Payment
|
|
|
Electricity
|
|
|
Insurance coverage
|
|
|
Clothing
|
|
|
Recreation and vacation
|
Detailed explanation-1: -Variable costs are costs that change as the volume changes. Examples of variable costs are raw materials, piece-rate labor, production supplies, commissions, delivery costs, packaging supplies, and credit card fees.
Detailed explanation-2: -Fixed expenses generally cost the same amount each month (such as rent, mortgage payments, or car payments), while variable expenses change from month to month (dining out, medical expenses, groceries, or anything you buy from a store).
Detailed explanation-3: -Examples of variable expenses Common variable expenses include: Groceries and dining out. Clothing. Personal care. Entertainment.
Detailed explanation-4: -Food costs, such as groceries and dining out. Clothing. Gasoline. Entertainment. Electric and gas utilities. Repairs for your home and car. Emergency medical bills. 29-Aug-2022